Economic situation worse

The economic situation at the end of November was worse than at the end of October. The heart of the scatter in the Business Cycle Tracer is located deep in the recession stage. All indicators are currently below their long-term average.

The Dutch economy shrank by 1.6 percent in the third quarter of 2012 compared to the same period one year previously. Taking calendar and seasonal effects into account, the economy contracted by 1.1 percent in the third quarter compared to the preceding quarter.

In November, Dutch consumers were more pessimistic than in October. Manufacturers, on the other hand, were slightly less gloomy than one month previously.

The capital market interest rate was 1.8 percent in October. The inflation rate climbed from 2.3 percent in September to 2.9 percent in October. Prices of existing owner-occupied dwellings were on average 7.8 percent down on October 2011. Selling prices in manufacturing industry were 4.3 percent higher than twelve months previously.

Seasonally adjusted unemployment increased further in October. The number of jobs fell further in the third quarter. People also worked fewer hours in temp jobs than in the second quarter of 2012. The number of job vacancies was nearly the same as in the second quarter.

Gross domestic product (GDP)

Gross domestic product (GDP)

More figures can be found in dossier Business cycle.

For more information on economic indicators, the reader is referred to the Economic Monitor.